The US state of Missouri is withdrawing money from its pension funds from the asset manager because of Blackrock’s ESG strategy. Treasury Secretary Scott Fitzpatrick accuses Blackrock of placing too much focus on environmental, social and governance (ESG) criteria – at the expense of returns. Specifically, it’s about $ 500 million. Several Republican states want to sever ties with Blackrock over its ESG push. Earlier this month, Louisiana said it would withdraw nearly $800 million. While states criticize Blackrock, environmental groups accuse the world’s largest asset manager of not doing enough to promote an energy transition.
ESG strategy – Blackrock under pressure – Economy
